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    getting rich in Dallas

    New report reveals how much money you need to be wealthy in Dallas

    Steven Devadanam
    Aug 6, 2018 | 9:20 am
    5422 Montrose, Highland Park
    Dallas residents have an exact figure in mind when they calculate the good life.
    Photo courtesy of Briggs Freeman Sotheby’s

    Take a stroll through areas such as University Park and Highland Park — named one of the richest communities in America — and one thing becomes clear: the Dallas area is home to vast wealth. But just what is required to be considered wealthy here? A new report reveals the exact figure Dallasites believe it takes to be rich or financially comfortable.

    Dallas residents say it takes a net worth of $2.4 million to be considered wealthy and $1.3 million to feel financially comfortable, according to data released by Schwab’s Modern Wealth Index. Both numbers are almost the same as the respective national averages of $2.4 million and $1.4 million — and also just below the amounts that Houston residents reported: it takes $2.5 million to be wealthy in Houston and $1.5 million to feel financially comfortable.

    About 750 Dallas-area residents participated in Schwab’s assessment, which scores participants on how well they manage their money and investments across four factors: goal setting and financial planning, saving and investing, staying on track, and confidence in reaching financial goals.

    Valuations in the study include being able to pay bills on time and still save, have life insurance, feel financially stable, have an emergency fund, and living paycheck to paycheck.

    Planning equals wealth
    The stark reality is that nearly three in five Dallasites say they live paycheck to paycheck; only one in four have a written financial plan, according to data. The report notes a connection between planning and positive investing and saving behavior. The Schwab Index found that 76 percent of respondents who plan are able to pay their bills and save each month — compared to 35 percent of non-planners.

    Planners are also more likely to stay engaged with their investments, be aware of the fees they are paying, and have confidence about reaching their goals.

    “When we look at the top overall performers in our Modern Wealth Index, there’s a consistent theme that they’re planners,” Julie Lambert, branch manager at the Charles Schwab branch in Plano, says in a release about the report. “Planning is critical to achieving any goal. It’s like a roadmap — it forces you to develop a realistic and informed perspective on where you are, where you want to go, and how to make the best use of your resources to get there.”

    Among those without a written plan, 45 percent say it’s because they don’t think they have enough money to merit a formal plan — the top roadblock according to Schwab’s study. Nearly a quarter say they wouldn’t know how to go about getting a plan and another 21 percent say getting a financial plan simply never occurred to them.

    “The idea that financial planning and wealth management are just for millionaires is one of the biggest misconceptions among Dallas area residents, and Americans overall,” says Lambert. “Whether people think they don’t have enough money, believe it would be too expensive, or just find the whole concept too complicated, the longer they wait the harder it is to achieve long-term success.”

    (Not) all about the money
    Dallasites aren’t exactly materialistic, the Schwab survey finds. Locals described being wealthy as living stress-free/having peace of mind, being able to afford anything they want, and having loving relationships with family and friends.

    In ranking their top ways to feel wealthy in their day-to-day lives, Dallas residents most value spending time with family (62 percent of respondents), having time to themselves (53 percent), owning a home (51 percent), dining out/getting meals delivered (36 percent), and enjoying subscription services like cable TV and music streaming (25 percent).

    Other things that make people feel wealthy in their daily lives include owning the latest tech gadgets (25 percent), grooming and pampering experiences like massages and manicures (24 percent), and driving a luxury car (20 percent).

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    Animal News

    Advocates find false info being fed to Texas legislators on pet store law

    Teresa Gubbins
    May 8, 2025 | 10:30 am
    Puppy mill dogs do not have a great life.
    Puppy mill dogs do not have a great life.
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    A national pet store chain has been implicated in a dishonest campaign to try and influence Texas lawmakers on an upcoming bill making its way through the legislature.

    The pet store chain is Petland, and they're engaged in a battle against The Ethical Pet Sale Bill (SB 1652 / HB 3458), which would encourage pet stores to stop selling at-risk animals from puppy mills and support shelters and rescue groups instead.

    The Ethical Pet Sale bill has support from rescue and animal groups across Texas, who are all grappling with a glut of animals on the streets and in overcrowded shelters. That pet overpopulation problem gets even worse when pet stores import more animals from puppy mills in states like Missouri and Ohio.

    If Texas passes the bill, it will join a growing number of states and cities who've already passed similar laws including Dallas, Austin, Bryan, College Station, El Paso, Euless, Fort Worth, Houston, New Braunfels, Pasadena, San Antonio, The Colony, Sherman, and Waco.

    Most reputable pet store chains such as PetSmart and PetCo do not sell cats and dogs. Petland does. The company operates 84 stores in the U.S., and fights bills like this by hiring lobbyists to discourage legislators from supporting these bills.

    Phony list
    In this case, a two-page summary was distributed to some Texas state senators listing reasons why they should oppose SB ("The evidence from other states, especially California, demonstrates that these types of bans do more harm than good"), plus a list of organizations that are opposed.

    Most of the organizations opposed to the bill profit directly from animals, such as Petland and Puppy Dreams, a North Texas chain that also sells animals.

    But the list also had surprising names including PetSmart, PetCo, and Pet Supplies Plus — the three largest pet store chains who all have a history of supporting adoption of shelter animals.

    Their presence on the list caught the eye of animal advocacy groups such as Texas Humane Legislation Network and Humane World For Animals, who've worked with the big three in the past.

    "We became aware of Petland Inc.’s lobbyist apparently sharing the attached document with legislators, claiming the listed pet and pet product industry leaders are opposing this legislation," said a spokesperson from Humane World of Animals (HWA). "We checked in with contacts at Petco, Petsmart, and the American Pet Products Association, and all of them deny opposing this legislation or giving Petland permission to list them on this opposition letter. It’s very possible others listed in this letter also did not give their permission to be included — we only connected with the those listed above at this stage."

    CultureMap also contacted the three major pet store chains and received similar responses that they had not been consulted nor did they issue a rejection of the bill, although none wanted to be quoted.

    The misrepresentation is concerning because it muddies the water with false information at a time when the bill is still under consideration:

    HB 3458 — the version going through the Texas House — passed a House Committee with a 10-1 vote and has been moved up the chain towards passage.

    SB 1652 — the version going through the Senate — still needs to get through the Senate Committee, Calendars, and a floor vote.

    "By creating a false narrative about the position of the above industry leaders, this letter has the potential to sway lawmakers at a critical juncture in the legislation’s journey," the HWA spokesperson says.

    Two Petland stores in the Dallas area — in Frisco and Tyler — have been the subject of undercover investigations. Petland Webster recently settled a lawsuit with several families that the store allegedly sold sick puppies to, and several lawsuits have been filed against Petland Woodlands in Texas, claiming the store sold sick puppies. One pet owner told the House Committee that he'd spent $20,000 on medical care of a puppy he bought at a pet store.

    "Banning the retail sale of puppies and kittens is a common-sense solution to protect both animals and Texas consumers," said Dean Senator Judith Zaffirini of Laredo, who filed the bill. "My SB 1652 would help reduce pet overpopulation, promote responsible breeding practices and prevent families from unknowingly purchasing sick animals. With varying local ordinances in place and further action at the city level now restricted, it is important for the state to provide a clear and consistent approach that prioritizes both animal welfare and consumer protection."

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